Vietnam Business News

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• Singapore’s UOB raises stake in Southern bank
• Petro Vietnam to resume operations at Dung Quat oil refinery in Vietnam
• Shell plans to expand Vietnam business
• Vietnam’s cashew export value up 30% in 1st 8 months
• Vietnam must do more to strengthen economy: experts
• Vietnam tasting another bitter lesson in cement industry development
• Nation’s first elevated highway to be built in Binh Duong
• Vietnam seeks rice export opportunities via UAE
• Int’l electrical equipment exhibition opens
• Gold falls to below VND47.6 million a tael on Wednesday

Singapore’s UOB raises stake in Southern bank Posted: 07 Sep 2011 09:07 PM PDT Singapore’s United Overseas Bank said on Wednesday it has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent Singapore’s United Overseas Bank said on Wednesday it has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent through the subscription and market purchase of an additional [...]

Petro Vietnam to resume operations at Dung Quat oil refinery in Vietnam Posted: 07 Sep 2011 09:07 PM PDT State owned Petro Viet Nam said it will resume full operations at its Dung Quat Oil refinery located in Quang Ngai, Vietnam, next week. The refinery is currently operating at 70% capacity, will commence operations following two months of scheduled maintenance work. A second overall maintenance of the refinery is planned to be carried out [...]

Shell plans to expand Vietnam business Posted: 07 Sep 2011 09:06 PM PDT Royal Dutch Shell is keen to expand its upstream and downstream business in Vietnam Royal Dutch Shell is keen to expand its upstream and downstream business in Vietnam at a time when other oil majors such as BP and ConocoPhillips have been pulling out amid frustrations over bureaucracy and concern about the worsening territorial dispute [...]

Vietnam’s cashew export value up 30% in 1st 8 months Posted: 07 Sep 2011 09:06 PM PDT Vietnam exported 108,000 tons of cashew nuts in the 1st 8 months of this year, earning US$875-M, which posted a decline of 12% in volume, but an increase of 30% in value, Y-Y reported the Vietnam General Statistics Office (GSO) Wednesday. According to the Vietnam Cashew Association (Vinacas), the country's main importers were the United [...]

Vietnam must do more to strengthen economy: experts Posted: 07 Sep 2011 09:05 PM PDT Economic experts have complimented the efforts made by the Vietnamese government to counter the global economic downturn as well as curb domestic inflation. Local and foreign experts were meeting at a conference organized by the Ministry of Investment and Planning on September 6. They hailed Resolution No.11, drafted by the government on macroeconomic development as [...]

Vietnam tasting another bitter lesson in cement industry development Posted: 07 Sep 2011 08:54 PM PDT Four out of the 16 cement plant projects, which were guaranteed by the government when borrowing capital from foreign sources, have entreated help of the Ministry of Finance to pay due debts. The blunders made by Vietnam in the past when building blast furnace cement plants are repeating. In 2010, China "declared the death" of [...]

Nation’s first elevated highway to be built in Binh Duong Posted: 07 Sep 2011 08:54 PM PDT The People's Committee of the southern Binh Duong province on Sept. 6 agreed on a plan to build a 31.5km elevated highway at an estimated capital of over $800 million. The project, the first of its kind in the country, will be built above National Highway 13 to help ease traffic jam in the route. [...]

Vietnam seeks rice export opportunities via UAE Posted: 07 Sep 2011 08:53 PM PDT Vietnamese rice exporters on Sept. 7 engaged in a discussion with a delegation from Rice International Conference and Exhibition in Dubai (Rice Dubai 2011) of the United Arab Emirates, to seek more opportunities for Vietnam's rice exports. Faisal Ali Mousa, who led the delegation, said Dubai not only re-exports rice and farming products to the [...]

Int’l electrical equipment exhibition opens Posted: 07 Sep 2011 08:53 PM PDT The fourth Vietnam International Electrical Technology and Equipment Exhibition 2011 (Vietnam ETE 2011) opened in Hanoi on September 7. The event was sponsored by the Department of Trade Promotion under the Ministry of Industry and Trade, and jointly organised by the Vietnam Electrotechnical Association, the Vietnam Electricity Group (EVN), and the Vietnam CIS Advertising and [...]

Gold falls to below VND47.6 million a tael on Wednesday Posted: 07 Sep 2011 06:00 PM PDT The price of gold in Vietnam sank to below VND47.6 million a tael (1.2 ounces) on September 7 due to depreciation pressure from global market. Gold was bought at VND47.48 million and sold at VND47.68 million at most gold shops in Ho Chi Minh City. Saigon Jewelry Company, the biggest gold shop in Vietnam, bought [...]

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